EURUSD > Trade AnalysisEURUSD - October 2017 Trade Analysis
Timeframe: 1M
Expecting uptrend to continue toward 1.1910 - 1.2037 levels considering that 1.1744 - 1.1712 support levels hold.
Expect downtrend to begin as price falls below above support levels.
Firm break and hold of 1.1744 - 1.1712 levels will open path toward 1.1612 level.
In longterm, October, 2017 price range expected between 1.1900 - 1.1540 on average.
Closing price at end of month expected @ 1.1720 levels.
* Personal analysis only. Please use your own rules and strategies prior to entering market.
** Forex trading involves HIGH RISK.
Before entering a trade, carefully consider your objectives, financial resources and level of experience.
Longshort
AMZN: Short it here, antitrust law discussion might affect itI think it's a good time to revisit the idea of shorting bubbly large caps, in particular ones with a good fundamental backdrop, to both profit from the decline in them, if it comes to pass, and hedge our risk in other long positions we hold in our portfolio. I'm focusing on $AMZN here, which has the lowest risk from my perspective. For a great breadown on it, check out Tim West's post in related ideas. The weekly upside is exhausted and implies a slow period, either a correction or consolidation for a few more weeks still. The recent run up, on the back of dovish comments from Janet Yellen, give us ample opportunity here.
So, in general, I don't advocate shorting stocks, mostly because of sentiment, and the bullish signals and valuations of many companies, but other stocks do justify the concern, to name a few, $NFLX, $AMZN, $AAPL, $GOOG, $MSFT, $NVDA, $WYNN, $WST, $HD, $BBY, $MU...The recent talk of net neutrality, and now antitrust laws, might stifle some volatility in internet related stocks, and specially big behemoths like $AMZN.
As a counter argument to this, sentiment remains negative for the most part, which could imply further upside to be tapped soon, according to the AAII sentiment survey data: www.aaii.com
The government and the fed can pull the plug though, ultimately, and if $AMZN does trigger a reformulation of the antitrust laws, it is in for a heck of a drop.
In the long run, we will have losers, but it's always good to take a valid trade opportunity, as scary as it may seem, specially if it helps balance our portfolio risk, and help bring us down into reality again after being right in most things.
Best of luck,
Ivan Labrie.
BITCOIN: BTCUSD The war of attrition continuesBITCOIN: Bears can't win yet until they can break 2225-2215 and then 2180 below there. But neither can the bulls unless they can take 2350 out. One way or another, if you're patient enough, this is going to break and if it happens to be to the upside it should be worth following
EURNZD Bullish 2618 to Bearish Bat + Gartley + ButterflyEURNZD had formed a double bottom and retraced 61.8% to give us an entry for a bullish 2618 trade. At the 127% extension where profit is commonly taken, 3 bearish harmonic patterns may present themselves within a tight PRZ. On the higher TF, a larger bullish shark is emerging.
Trade 1: Bullish 2618:
Entry at the 61.8% retracement level
SL is placed below the double bottom
Target is taken at the 127.2% extension
Trade 2: Bearish Bat + Butterfly + Gartley
Entry in the center of the PRZ
TP at .618CD (or move to B/E at this level and let the trade run toward the bullish shark completion)
SL outside of 113% XA
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